Insider Selling: ON24 (NYSE:ONTF) Insider Sells 4,099 Shares of Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 4,099 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $5.30, for a total transaction of $21,724.70. Following the completion of the sale, the insider owned 731,333 shares of the company’s stock, valued at $3,876,064.90. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Jayesh Sahasi also recently made the following trade(s):

• On Monday, September 8th, Jayesh Sahasi sold 3,681 shares of ON24 stock. The stock was sold at an average price of $5.58, for a total transaction of $20,539.98.
• On Friday, September 5th, Jayesh Sahasi sold 4,608 shares of ON24 stock. The shares were sold at an average price of $5.52, for a total value of $25,436.16.
• On Thursday, September 4th, Jayesh Sahasi sold 5,612 shares of ON24 stock. The shares were sold at an average price of $5.52, for a total transaction of $30,978.24.
• On Wednesday, September 3rd, Jayesh Sahasi sold 3,114 shares of ON24 stock. The stock was sold at an average price of $5.43, for a total transaction of $16,909.02.
• On Tuesday, September 2nd, Jayesh Sahasi sold 2,828 shares of ON24 stock. The shares were sold at an average price of $5.60, for a total transaction of $15,836.80.

ON24 Stock Performance

Shares of ONTF stock traded down $0.12 during trading hours on Monday, hitting $5.33. The company had a trading volume of 917,692 shares, compared to its average volume of 155,971. The firm’s fifty day moving average is $5.53 and its 200 day moving average is $5.41. ON24, Inc. has a 12 month low of $4.35 and a 12 month high of $7.03. The firm has a market capitalization of $225.14 million, a price-to-earnings ratio of -7.20 and a beta of 0.66.

ON24 (NYSE:ONTF) last announced its earnings results on Monday, November 10th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $34.60 million for the quarter, compared to the consensus estimate of $33.87 million. ON24 had a negative return on equity of 18.61% and a negative net margin of 22.09%. ON24 has set its FY 2025 guidance at 0.050-0.060 EPS. Q4 2025 guidance at 0.010-0.020 EPS. On average, sell-side analysts expect that ON24, Inc. will post -0.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ONTF has been the topic of a number of recent analyst reports. Robert W. Baird raised their target price on ON24 from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Canaccord Genuity Group boosted their price objective on shares of ON24 from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ON24 in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of ON24 from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ON24 has a consensus rating of “Reduce” and an average price target of $6.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Lynrock Lake LP lifted its holdings in shares of ON24 by 4.5% in the first quarter. Lynrock Lake LP now owns 7,659,474 shares of the company’s stock worth $39,829,000 after acquiring an additional 329,715 shares during the last quarter. Federated Hermes Inc. raised its position in shares of ON24 by 0.5% in the 3rd quarter. Federated Hermes Inc. now owns 1,177,588 shares of the company’s stock worth $6,736,000 after acquiring an additional 5,347 shares in the last quarter. Geode Capital Management LLC lifted its stake in ON24 by 13.7% in the second quarter. Geode Capital Management LLC now owns 852,320 shares of the company’s stock valued at $4,629,000 after buying an additional 102,396 shares during the period. Acadian Asset Management LLC lifted its position in shares of ON24 by 1.8% during the 2nd quarter. Acadian Asset Management LLC now owns 845,702 shares of the company’s stock valued at $4,590,000 after acquiring an additional 14,851 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of ON24 by 19.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 710,354 shares of the company’s stock worth $4,063,000 after purchasing an additional 116,400 shares in the last quarter. 83.93% of the stock is owned by institutional investors.

ON24 Company Profile

ON24, Inc provides a cloud-based intelligent engagement platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide. The company provides ON24 Elite, for live and interactive webinar experience; ON24 Breakouts, for live breakout room experience that facilitates networking, collaboration, and interactivity between users; ON24 Forums, for live and interactive experience, which facilitates video-to-video interaction between presenters and audiences; ON24 Go Live, for live and interactive video event experience that enables presenters and attendees to engage face-to-face in real-time; and ON24 Virtual Confrence, for live and large scale managed virtual event experience.